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20121201
20121231
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. >>> welcome back to "the kudlow report." in this half hour, you know, folks, california is one screwed up state. they want green rj energy which makes them double up on fossil fuels. they want a carbon tax and with a 52% rate i heard their businesses are fleeing to arizona. former mississippi governor haley barbour has been appointed to do an autopsy on gop losses last month. we are going to look at the forensic evidence on this one. first up, take a listen to this one. one of the many radio ads by the kept of agriculture encouraging people to sign up for food stamps. >> would you look at margie? she looks amazing. >> she sure does. >> i wonder how she stays so fit? what's her secret? >> well, she told me that food stamp benefits help her eat right and she stays active, too. >> guess what. unfortunately this is working. despite an improving economy and declines in unemployment we learned the number of people on food stamps is still soaring. this is government dependency at its worst. here now is the story. political reporter from the daily caller and margie omara. margie, i have to go to
. john in california. >> caller: booyah, jim, from the sacramento valley of northern california. >> what's going on? >> caller: anyway, i got -- i noticed some activity in the house building around here back around northern california, sacramento valley. my play is berkshire b. what do you think of that? >> i think it actually made sense. i campaigned for that to be a housing and insurance company stock. i think you're dead on, i think it's a great buy. i think you're getting them pretty cheap if i do say so myself. keep one eye on the paralysis in washington and one on the companies no longer waiting to be act. there's money to be made just being a shareholder. get out of those bond funds. they're going to crush you. find some good stocks. >>> coming up, trend spotting? tonight cramer's got the exclusive interviews you need to catch the market's next hot trend. first, wall street's been taking a bite out of apple but tech manufacturer jbil lit up the ticker today. is it charged for a run in 2013? then, as hiring picks up in the u.s., could paychecks help you cash in? and with the housin
are jumping ship. and is there a republican doom's day scenario developing? a southern california port strike is costing $1 billion a day. they are turning down $190,000 salaries. here is the question, will the president end this strike? and tens of thousands of egyptians storming the palace. is egypt about to blow up into a civil war. did president obama disspeaker john boehner in a comment today. >> on the conservative side of the republican party today. with senator demint speaking on the idea that $800 billion of tax increases were offered. but he got the backing of mitch mcconnel. take a listen to what he had to say. >> i think it sis important tha the house leadership is trying to mov move it forward. i had hoped that we would be accomplishing more in the real talks. but i can tell you, there is nothing going on privately that is not going on publicly. even as he has to deal with this rebellion. he has to deal with democrats and harry reid's comments today give you a sense of where they are coming from. >> they have to come up with specific revenue. and they refuse to do that. it is a s
in california, nevada, arizona all things we learned from the luxury home builder toll today. oh, that's fine. they leave out the most important fact that i hadn't heard from anybody, let alone toll brothers before. demographic play, how the company's chairman talked how demographics are going to take over. household formation is unnatural but because of the great recession. now at least it's picking up. there should are several new home buyers out there because of pent-up demand. well, from the delay of creation of new families, which is highly unusual in a country like america. what makes that so special? the fiscal cliff could be a big deal for sure. but what could trump the fiscal cliff, study this. it's the need to get out of your mother-in-law's house. get your own home. intuitive concept for those, when you think about it. we got to break here as toll brothers actually down on the news today because the market's so darn tough. i expect downgrades tomorrow from people who don't believe things can stay this strong and that could be your strong to be analysts who always downgrade ar the r
because the markets that we're in, texas, california, florida, the sun belt, the west, the good tax climates, the good business climates, places that benefit from immigration, migration, baby boomers, et cetera. >> well, that's important because one of the themes we've been hitting on is there's some things that can trump even what washington's done. meaning that they could set us back, but you've got some stories in here about areas that are just terrific where your development pipeline is and the strong balance sheet obviously. but it looks like you are in the genuine actual growth areas demographically. so that can't be rolled back by washington. >> agreed. that's where, you know, we have wanted to focus our portfolio into basically about 12 states from washington state through washington, d.c. all those coastal and border states, plus las vegas, which surprisingly is a very good market for us and denver. >> see, i think people are misinterpreting. we had a fellow on from city national in california yesterday, people don't get it, california and nevada, florida are really coming
and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can ge
of marriage act and california's proposition 8. nbc's pete williams joins us now from washington with all the latest details. good evening, pete. >> reporter: good evening, larry. the vilma case is the easier one. federal law signed into law by president clinton in 1996. it says if a person is legally married in a state, the federal government can't recognize those marriages. that's where you talked about federal benefits heterosexual couples get and same sex couples do not. the prop 8 thing is bigger. while potentially it's confined to the state of california only, the question it out there having given the right to gay marriage could the state then take it away through proposition 8 passed by a majority of the vote nurse 2008. having taken that case, the court could get to the bedrock issue. can any state refuse to let same sex couples get married under the federal constitution. it could potentially be narrow or very far. >> pete, as i understand it, let me ask you. this one of these things, maybe the driving one, is defense of marriage act was about paying the estate act. where one of
article on "forbes" talking about combining the new it had factioncates and california rates. if you live in california, effectively dividends of a california company with a california owner is going to be taxed 74%. that's crazy. >> better to see companies leaving california as their tax domicile? >> companies leaving, people leaving, but more importantly companies have a price of paying dividends? those making the checkses are all in the highest tax rate. you reduce the income in the equity markets. >> again, we're talking worst case scenarios in this point of these effective tax rates that are possible certainly. i'll give you that, but don't we really expect the rates too-to-go up a lot less than that as congress comes together and compromises on these very consentious issues? >> right now congress, the 20% rate plus the 3.8% rate on -- on the health care reform, that's still widening the debt bias. what happens when you widen the debt bias? companies leverage more. companies that are leveraged companies they invest less and create less jobs. >> yeah, go ahead. >> finally, investors g
bloom boxes in california. like, fedex. we were at their hub in oakland the day bloom installed their boxes, each one costing $700,000 to $800,000. one reason the companies have signed is that in california, 20% of the cost is subsidized by the state, and there's a 30% federal tax break because it's a green technology. in other words, the price is cut in half. >> we have fedex. we have wal-mart. >> you have wal-mart? >> absolutely. >> staples? >> staples. >> so who was the first? >> google was the very first company. >> google was the first. >> yes. >> these four units have been powering a google data center for 18 months. they use natural gas, but half as much as would be required for a traditional power plant. k.r. told us that three weeks in at google, suddenly, one of the boxes just stopped. >> your heart just drops. >> did you panic? >> for a short while, yes. >> he fixed that. then there was another incident. >> the air filters clog up, and air is not coming into the system because the highway is kicking dirt. you just flip the system around, and the problem is gone. >> an
in california, nevada, arizona all things we learned from the luxury home builder toll today. that is fine. but what i hadn't heard is a demographic play, how the demographics are going to take over. household formation is unnatural and because of the great resection. well, from the delay of creation of new families, which is highly unusual, what makes that so special? the fiscal cliff could be a big deal. i'm going to put it in an amusing way, it is the need to get out of your mother in law's house. pretty intuitive concept when you think about it. we have a break here. because the market is so darn tough. and that could be your chance for the analysts. here is the bottom line. we need hope to be van switkwis. he so that it is so negative. have them leave the room. and we can return to the growth themes and they are autos and homes. by them on the way down and never on the way down as the scared sellers buy them out. you can take your time. who the heck knows when and from what level you can get back in. why don't we go to tom in new york. >> big lots and slower same store sales and make
's go to mike in california. >> booyah from san luis obispo. i'm a first time caller. thank you for making it about the market. i bought hca. >> i think the situation is getting better. if i want healthcare i would prefer to be in bristol myers. i like to sleep at night. i understand why hca people are coming back because of health care. ed in new york. >> thank you for taking my call. i was wondering about groupon as a speculative play. >> i'm wondering about what deal they gave me today. they have a lot of deals i'm not crazy about. my take is that it is not a great stock. it could rally. let's go to randal in california. >> hello mr. cramer. sandridge permian trust. thank you for introducing it on your show. >> i was going over these oil trusts. we know that every single one of them is going down. people are saying that sand ridge is having a tough time. and that is the conclusion of the lightning round. >> coming up gold mine? the world is demanding more resources than ever. the need to keep these workers safe is paramount. cramer is revealing the company with the solution j
in california. ramon >> caller: hey, jim, boo ya, baby, calling you from riverside county but born and raised in the san fernando valley. i'm a frequent watcher, jim. thank you for all that you do. >> thank you for that. that is a -- go ahead >> caller: my question is with the recent news of a possible takeover on walter energy, what is your stance, sir, on the possible buy on the stock. >> i cannot recommen aon e wa l'so cko ora.o 1 le y, m, rll i see where the earnings on tether pharmaceuticals has been reduced. i wonder what you think the future of the stock looks like. >> sunshine that stock was down about 1.70 when that news came my take iso 1 d'tikitf1 and then sell sell sell. >> caller: a big booyah from bucks county, pa. >> that's where i lived for a long time. what's going on? my question is with the recent news of a possible takeover on walter energy, what is your stance, sir, on the possible buy on the stock. >> i cannot recommend anyone buying stock on a takeover basis when i think the fundamentals are not going the right way. the fundamentals are not going the right way. let's go
when it should lift. let's go to ramon in california. ramon? >> caller: hey, jim, boo-ya, baby, calling you from riverside county but born and raised in the san fernando valley. i'm a frequent watcher, jim. thank you for all that you do. >> thank you for that. that is a -- go ahe. >> caller: my question is, jim, with the recent news of a possible takeover on walter energy what is your stance, sir, on possible hold or buy on the stock? >> here is the problem with walter, i cannot recommend anyone buying stock on a takeover basis when i think the fundamentals are not going the right way. the fundamentals are not going the right way. let's go back to florida. bart in florida. bart. >> caller: yes, jim, i really enjoy your program. i see where the earnings on tether pharmaceuticals has been reduced. i wonder what you think the future of the stock looks like. >> i got to tell you something, sunshine that stock was down about 1.70 when that news came out between 7:30 and quarter of 8 and it rallied, it rallied t rallied hard. up 13 cents. my take is this. i don't like it. i think it can go to
cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the fiscal cliff. do you agree with that? >> i don't know. but i do know we haven't made any progress. from time to time, we've heard encouraging words but then the next day when it is time to report out what happened, nothing has happened. it does not appear that there have been any changeets, any progress has been made. so, as is being said, a moment ago. members of congress are prepared to be here during christmas holidays if we have to. >> when members go home for the weekend, back to their district, many traveling at taxpayer expense during this kind of environment, the optics are not particularly good. does that resonate with you, congressman w
. malibu, california tops the list of listings with 63 listings. 10 million or more of course the larry ellison premium driving up premiums. he is buying a lot of homes. and aspen, colorado, this home just hitting the market. we are announcing it right now. $40 million in the starwood development plus your neighbor would be john paulson, the hedge fund guy. 2013 could mark the return of the nine-digit house. several homes for a hundred million or more. the versace mansion in florida, price, $125 million. can you see more mega homes and meg why prices at cnbc.com. >> so malibu, beverly hills, aspen and isn't a barbasanta ba. >> and they took out new york, because central park would be in top five or top ten. it is all ex new york. and it is really california and aspen. >> and what about amex for -- >> i think they should include us the next time around. >> california and aspen, two blu beautiful places to live. >>> was the bailout worth? stick around. "power lunch" is back in two-minutes time. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the
, california. >> paul jobs was a salt of the earth guy who was a great mechanic, and he taught his son steve how to make great things. and he--once, they were building a fence, and he said, "you got to make the back of the fence, that nobody will see, just as good-looking as the front of the fence. even though nobody will see it, you will know, and that will show that you're dedicated to making something perfect." >> jobs always knew he was adopted, but it still had a profound effect on him. he told isaacson this story from his early childhood during one of their many taped interviews. >> now, i was--remember, right here on the lawn--telling lisa mcmoylar, who lived across the street, that i was adopted. and she said, "so does that mean your real parents didn't want you?" ooh, lightning bolts in my head. i remember running into the house. i think i was probably crying, asking my parents, and they sat me down, and they said, "no, you don't understand." they said, "we specifically picked you out." >> he said, "from then on, i realized that i was not just abandoned; i was chosen. i was special.
call facts. meredith in california, meredith. >> caller: hi, sweet jim cramer, from devore, california, thank you so much for helping beginning investors like me. >> well, thank you, that's what this show is about, how can i help? >> my stock is ingersol rand, it's a security tech business and possible announcement of share buyback program and i would love to have your input. >> a lot of people thought it wasn't enough. i saw this when it came over, i think it was right before the arizona cardinals decided that they were going to throw the game, excuse me, it was more like when the new orleans saints decided they were going to throw the -- it came in the afternoon. what happened is i thought the stock would be 50.5 $50.51 i wau to stay with ingersol rand. we have found when you buy with him, you make money. jude, my home state of new jersey, how are you? >> caller: thank you for helping me make a lot of money and i have a question for you. >> you bet. >> caller: the rumor that beam is going to be bought by a japanese company, is that good? >> the beam numbers are great. don't buy it on
helped make slea difference last yearose for thousands of california foster kids. thank you for helping foster kids. thank you for the school supplies. thank you for the new shoes. thank you, secret santa. and thank you for donating money. your generosity proves that while not everyone can be a foster parent, anyone can help a foster child. - thank you. - thank you. gracias por su ayuda. thank you. >>> sometimes when a company stumbles, a strength of underlying themes take tibco. back on december 5th, tibco did drop the ball. company preannounced a downside. credit where credit is due, they didn't make excuses. they said their sales force didn't do a good enough job. days to follow it wasn't so strong. normally after negative preannouncement my rule of thumb is to stay away for a couple quarters to see if management has a handle on things. results were slightly better than expected which is why the stock jumped up 1.62. up 14% from where it was in wake of the reannouncement. if you bought the stock the last time ceo was on in july, you have lost 19%. let's check in with vivek ranadive,
and current economics professor at the university of california at berkeley. good to see you. thanks so much for joining us. >> how are you? >> let's talk about these numbers on friday, the surprisingly strong jobs numbers. 146,000 new jobs created. the unemployment rate dropping to 7.7%. we were expecting some impact from the super storm sandy in earlier thanksgiving. what do the numbers say about the economy? >> apparently we are still struggling. these are not hugely wonderful numbers but undoubtedly we're moving in the right direction. the early thanksgiving may have canceled out negative effects of sandy. sandy really did not have much of an effect in november. >> interesting -- do you think we'll see revisions next month? >> we probably will. every month we're seeing revisions and so far they have been downward. the revisions we saw friday for october and september, were both downward slightly. i wouldn't be surprised if we see downward revisions coming up. >>> the other big story we're talking about is the fiscal cliff. can you help us read the tea leaves. we heard from timothy geithn
teachers so they can inspire our students. let's solve this. for over 60,000 california foster children, the holidays can be an especially difficult time. everything's different now. sometimes i feel all alone. christmas used to be my favorite. i just don't expect anything. what if santa can't find me? to help, sleep train is holding a secret santa toy drive. bring your gift to any sleep train, and help keep the spirit of the holidays alive. not everyone can be a foster parent, but anyone can help a foster child. >>> a front page "wall street journal" story today explains how companies are scrambling to offer deals and special dividends as the january 1st tax threat of the fiscal cliff nears. 173 companies have moved up their dividend payments to beat the tax man. private equity shops, venture capital assets and even block traders on wall street are changing their behavior. so please, don't tell me that tax rate incentives don't matter. we're looking at it before our own eyes right now. let's talk about this. nbc contributor and former presidential candidate howard dean, steve moore of
it was airtight, unassailable and a -- >> buy, buy, buy. >> david in california. >> caller: boo-yah, jim, from southern california. >> lucky man. what's up? >> caller: i wanted to get your opinion on ggc. >> i'm not a commodity guy, i'm a proprietary guy, commodity business offloaded by ppg, which by the way helped bring public while i was at goldman, and, i say buy ppg. let's go to ron in new jersey. ron? >> caller: boo-yah, buddy. >> liking that. what's up? >> caller: where do you see this new mondeliz? >> oh, i like it, mondelez, my charitable trust owns it. stephanie link was telling me this morning because we go over the portfolio, this is the one, this is the one, not general mills, not heinz, not mccormick. this is the one. larry in washington, larry? >> caller: boo-yah from port angeles, washington, jim. >> i'm liking that. >> caller: what do you think about american axle? you recommended that a few months ago, are you still hot on it? >> yes, i am. i think that is absolutely terrific. it's going to be big, the trucks port is going to be big. i like it. i want to own it. now let's go t
site of the stock. to darrell in california, please. darrell? >> caller: yes. boo-yah, jim cramer. >> boo-yah! >> caller: i have a question there. what is meant by a reverse split stock? >> that means if there's a million shares, you know, say they do a 3-1, you know, they get to 300,000 shares. what is typically gone, ci citigroup did it. if you have 300 billion shares, you divide by three, you get 100 billion. it does raise the price, but it's illusory. you just have fewer shares. tyler in florida, please? tyler? >> caller: i'm going to give you a south florida boo-yah. >> i'll take that. i need to go there now. always. what's up? >> caller: sun is shining -- actually, no, it's overcast. quick question. when you talk about the economy, you know, really booting off again, it seems like you talk about it in terms of consuming and not producing. i'm thinking from the way i think about it, you need something to be produced before it's consumed. i'm wondering why -- in terms of a growing economy you talk about consumption instead of production. that's what it seems like to me. >> i d
throwing the fiscal cliff talks down. >> held hostage, the head of a california company tells lawmakers what he thinks about the fiscal cliff. >> i'm brad adams and the ceo of sun stone component group in california. if the politicians in washington don't get this situation resolved, undoubtedly there will be a downturn in economic activity and a direct impact to our business. it's a very severe situation. treat this as an economic problem and stop playing politics and take leadership for the situation and get it resolved. . excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, a
's "hotel california" saying you can check out any time you want but you can never leave. jeffrey lacker also making comments today. our senior economics reporter steve leaseman joins us with more. what exactly did the fed president mean, mr. fisher, when he said that, steve? >> once you start going with qe, that you cannot stop because of the effect on the market. and fisher was just one of two hawks that took to the airways to voice his opposition with the change in fed policy which, as you remember, boosted quantitative easing by a trillion dollars this year. fisher and president jeffrey lacker are among call them two serial dissenters. lacker has dissented at every meeting. fisher on "squawk box" this morning, i want to show you the quote that tyler is talking about and what surely is a first comparing fed policy to a rock and roll song. >> i've argued that basically we were at risk of what i call a hotel california monetary policy going back to the eagles song which is you can check out any time you want but you can never leave. >> fisher went on to say that liquidity is not the pro
better believe that there are a lot of democrats in states like california, virginia, florida, in the senate and the house who don't want to see those defense cuts either because, boy, those are big employers. let me grill on one thing and that is this, tax rates are scheduled to go up anyway next year because of surcharges on medicare and a payroll tax surcharge because of obama care, am i right on that? >> you're right. if you look at it, incomes are really going to go back to where they were during the meltdown. the american economy will not have moved forward for many households. >> and the payroll tax holiday will end automatically. an immediate 2% cut to disposable take home pay. thank you, michelle? >> you say sequester, i say sequester. let's call it all off. >> the dow is trying to hold onto the 13,000 level. let's see if it can hold by 113 points. 13.79 as it grows increasingly clear that they may not, probably cannot get it done. hamilt hampton pearson is here. >> we're down to, if you will, coffee cup politics. two simple words, rise above, on coffee cups and on cu
california. jane. >> hi, tyler. one of the best things about being in the malls, there's no more christmas music. up next, we've been talking about returns. how many returns to retailers are fraudulent, and are you still getting hurt because someone you gave a gift to didn't like it. get over it. everyone else has. we'll have that after the break. . they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. let'for an idea.s - a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, t
they gave me today. my take is that it is not a great stock. >> let's go to randal in california. >> hello. we know that every single one of them is going down. people are saying that sand ridge is having a tough time. and that is the conclusion of the lightening round. >> coming up gold mind? the world is demanding more resources than ever. the need to keep these coworker safe is paramount. just ahead. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she
or minimize taxes to hit some people. high tax residents new york, california may find some of the deductibility of taxes is restricted. all of that is going to have a negative impact on consumption. we have seen the third quarter show that consumption increase is slower than expected. that's going to get accentuated as we go into the new year, which is why i think even if there is an agreement the impact is going to be quite negative. >> jim, you disagree. you call it a mole hill. what do you mean? >> i think it's sold as a cliff as if we're going to fall entirely off and have this massive fiscal tightening next year. what is more likely is a modest tax hike and spending cuts and most things extended and we live to fight for another day. i personally think we will have fiscal cliffs over and over the next several years. if you have a modest fiscal tightening next year, it's nothing new for the economy. we have had 1% for every year of the recovery. the deficit has improved by about 3.5% in the first 3 1/2 years of the recovery. so a little more modest fiscal tightening hasn
on every purchase, every day! what's in your wallet? for over 60,000 california foster children, the holidays can be an especially difficult time. everything's different now. sometimes i feel all alone. christmas used to be my favorite. i just don't expect anything. what if santa can't find me? to help, sleep train is holding a secret santa toy drive. bring your gift to any sleep train, and help keep the spirit of the holidays alive. not everyone can be a foster parent, but anyone can help a foster child. ♪ candle is burning low ♪ lots of mistletoe ♪ lots of snow and ice everywhere we go ♪ >> a bright spot for one u.s. car maker. chrysler says the u.s. sales up 14% last month. that's best month since 2007. sales were up over 32% from last year. we'll get gm at 10:00. we're talking 4 1/2 to 5-year highs for all these guys. >> you have a combination of 11 year old age of autos, destruction of -- by the way, sandy was an auto destroyer. loss of life. horrible. terrible. it also took out many more cars than people realize. you have to pump overtime to be meet the demand. >>
's up tonight? >> i have citi national. this is a boutique bank based in california making money for people. i have to find out. they have big business with the ports in california. they also are worried about the fiscal cliff. i have known russell for years. >> we'll see you tonight. >> thank you. >> 6:00 and 11:00 eastern time. the president meeting with governor this is morning about the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some o
at risk of what i call a hotel california, monetary policy, going back to the eagles song which is you can check out any time you want but you can never leave. that's what i worry about. theoretically we can check out any time we want from this program but we practically, because we're going to have an engorged balance sheet, we may never be able to leave this position. so i have some concerns. i was concerned about the 2.5% mention, even, of inflation one or two years out in terms of expectations. the market becomes fixated on the unemployment target that we actually install its threshold, not a target that we put in there. but, i lost my arguments. there are others that argued similarly. they'll let them speak for themselves. but here's the thing, the committee makes a decision under the leadership of ben bernanke. this is ben bernanke's fed. its his legacy going forward, and then we leave the table and we're still friends. so, can i sell it to you? i can't sell it with passion. but i will say that this is action in a city called washington, or sometimes in texas we call it washington-st
, a round about in east london is being hailed as europe's answer to silicone valley. but should california tech giants be shaking in their hoodies? stay tuned. >>> welcome back to the program. the financial times picked mario draghi as its financial person for the year. earlier in the program, we asked you who would be your pick. bruce tweeted in to say silvia wadhwa, she's my favorite. silvia gets our vote, too. get in touch with us by e-mail, worldwide@cnbc.com, tweet us or tweet ross even though he's not here. in fact, i encourage that. >>> east london has been hailed to europe's answer to silicone valley. can it really compete? and what's in it for investors? tom mckenzie reports. >> in just a few years, london's tech city has grown from a handful of companies to a buzzing cluster of close to 5,000 businesses. it's spawned favorite start ups like moshi monsters and wonga.com. google and facebook have opened offices here and it's a major part of the uk government's growth strategy. british prime minister david cameron recently announced a 50 million pound cash injection for the tech hub
instagram places until the world. six california locations made the list. and the top two places most snapped and shared on instagram may surprise you. they were the shopping mall in bangkok, thailand t b, and the sunni's airport. >> where is your top place that you would like to go, christian? >> i think i go with the americans here. i think it looks most likely that we're going to be in italy. >> i thought you meant he were going to the americas. but that's all right. >> i'm going with the americans will be. >> where in italy? >> sicily. sicily looks -- first of all, it's some place i've never been. in london any time of the year but certainly in summer. >> are you an instagram user? >> i am not. >> where do you want to go, kelly? >> in 2013? >> yes. >> i suppose i get around to see more of europe. i would love to go to russia and see moscow and st. petersburg. >> don't go in the wintertime, that's all i can say. >> and yours? >> i used to do all the die hard type travel adventure stuff and now i just want a nice beach. mall tease you can never go wrong or the greek islands. i've ne
these guys, because the fundamentals are good, you can own it and if they get a bid -- josh in california. josh? >> caller: all right, mr. cramer, how are you today? >> how about you, josh, what's going on? >> caller: let's do three kickers real quick. cxw, smith and wesson, swhc and ruger, rjr. how they correlate with the upcoming administration, existing administration. >> i'm not going to put corrections, it's a contract company. it depends on what states are doing what. i have said among sturm, among smith and wesson and among cabela's, i lump that in the one i like best is cabela's. yes, pistol. if it ain't broke, don't fix it. i'm a little cautious with google, okay. these momentum stocks still work, amazon, visa, mastercard, sherwin williams, ulta, gilead, diageo and then rear going to be a little more pricey on tractor supply and alexia, but they all belong in 0 a year-end shopping list and they can bounce, and bounce hard if we jump over the cliff. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you c
the legislature -- >> do you have companies that have left and -- >> oh, absolutely out of california, you know, that's a target-rich environment is what we refer to california. they raise taxes again. they sent the message that the unions are going to continue to control the process out there. they defeated proposition 32. they passed proposition 30 which was the increase in their taxes. so, california businessmen and women are looking at their bottom line saying, where are we going to go? other places? >> governor, is it too much of a leap to say when we do this at the federal level they leave the country, bilss can eventually leave the country. >> sure. >> but we can't seem to make the leap to say that. and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of
a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she had seen the line of buss that basically was a wall of about 60 buses, they get precedence to go in, and then like 16 other lanes getting down to one to go into the tunnel, and you're just sitting there, like no within in the world does this. >> i got stuck in a broken down truck in the holland tunnel last night. it's amazing how fast they get that truck up and out. >> they better because there are fumes and everything else. but if you try to go from pasadena at the wrong time in l.a., it's three hours. in other n
. we've come too far. there's too much to lose! >> plus, reaction from california republican congressman kevin mccarthy. >> this ain't over yet. >> and who has the best shot at getting twinkies back on the assembly line? we have the latest on the hostess saga as "squawk box" begins right now. >>> and good morning, welcome back to "squawk box" on cnbc i'm joe kernen along with becky quick. erskine bowles. erskine bowles will join us in just a minute of simpson-bowles, bowles-simpson, take your pick. futures right now this morning have been relatively weaker all morning long. things in europe, sort of setting the tone for the markets. here are your morning headlines. the planned resignation of mario monti, the italian prime minister, is what's weighing on european markets this morning. monti says he'll step down as soon as the 2013 budget is approved, and that sent stocks lower and borrowing costs in italy and spain higher. as you just heard from kayla, we were in chairs, ingersoll-rand is planning to spin off its technology business. the security technology business in a deal
. >>> stewart in california, please. >> caller: jim, a big booyah for myself and my parents. i'm wondering how you think bank of america will do with the whole fiscal cliff situation? >> people tell me that the housing business is the one that will be hurt most by fiscal cliff, but bank of america is inexpensive stock. not my favorite, but banks trading together and bank of america will do well if we solve the fiscal cliff. that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >>> coming up, engine of growth? the power outages that followed superstorm sandy gave many homeowners a wakeup call. as the rebuild continues, could an investment in engine company briggs & stratton help plug you into a strong trend? cramer is speaking to the ceo to find out. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and b
money!" are you ready? we go to ginny in california. >> caller: one is what's happening with it and number two is i mistakenly put it in my i.r.a. before i knew we weren't supposed to. >> you're allowed to have a little bit. you have to go to your tax person on that. when you put it in, there's a limit before you get hit with that business tax. check that out. epd, they are all coming down. every single one is coming down. i want to buy. louis in maryland. >> caller: dunkin brands. >> i like it very much. i wanted to buy it for my travel trust recently but i own starbucks for that one. that's one that ginny mentioned at the top of the lightning round. brandon in oregon. >> caller: how are you doing today? >> it's a good day. how about you? >> caller: real good. my question is what are your thoughts on snap-on? >> it's one of my favorites. let's go to gregory in mississippi. gregory. wow, gregory. >> caller: thank you for taking my call, mr. cramer. my question is on company wr grace. it's had a good run this year. i was wondering your opinion. >> i have to save that one.
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